States Served
Top Industries Financed
- Engineering Services
- Custom Computer Programming Services
- Plumbing, Heating, and Air-Conditioning Contractors
- All Other Amusement and Recreation Industries
- Service Establishment Equipment and Supplies Merchant Wholesalers
Quick Summary
Drake Bank is an SBA-approved lender headquartered in SAINT PAUL, Minnesota. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 54 SBA 7(a) loans totaling $32.9M, with an average loan size of $610K. They primarily serve Minnesota businesses.
About Drake Bank
Drake Bank is an SBA-approved lender headquartered in SAINT PAUL, Minnesota. Since 2020, they have approved 54 SBA 7(a) loans totaling $32.9M, with an average loan size of $610K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They primarily serve businesses in Minnesota.
Before you apply — know where you stand
Nav is the only place where you can track your FICO SBSS score — the score the SBA uses to determine loan eligibility.
Helpful SBA Borrower Guides
Frequently Asked Questions
Is Drake Bank an SBA Preferred Lender?
Yes, Drake Bank is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Drake Bank approved?
According to SBA FOIA public records, Drake Bank has approved 54 SBA 7(a) loans totaling $32.9M since 2020. Their average loan size is $610K.
What states does Drake Bank serve?
Drake Bank primarily serves businesses in Minnesota.
How do I apply for an SBA loan with Drake Bank?
To apply for an SBA 7(a) loan with Drake Bank, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
Get in Touch with This Lender
Contact Drake Bank
Ready to Apply for an SBA Loan?
Check if you qualify in minutes — no impact to your credit score.
SBA 7(a) loans up to $5M · Rates from 10.5% · As fast as 7 days